Friday, April 21, 2017

Our base case for second round face-off (is also a result that is expected by consensus): Macron vs. Le Pen. Under this scenario, we expect EUR to remain in recent range of 1.0620 – 1.08, with bias to the upside. B

Our base case for second round face-off (is also a result
that is expected by consensus): Macron vs. Le Pen. Under this scenario,
we expect EUR to remain in recent range of 1.0620 – 1.08, with bias to
the upside. But the margin matters. A huge lead by Macron may see EUR
much firmer. Deviation from market expectation could see EUR swing either
way for instance a scenario without Macron in the second round face-off
(such as Fillon vs. Melenchon or Le Pen vs. Melenchon) is expected to be
...